Small-cap stock below ₹100 will be in focus on Monday amid ₹173 crore order from NBCC
'M/S GLOBE CIVIL PROJECTS LIMITED' has received a Letter of Award for "Construction of the Infrastructure facilities works/buildings i.e. Academic building, residential buildings, campus development etc. in campus of Central University of Punjab at village of Ghudda, Distt. Bathinda (Pb.) on EPC Basis," said the company in an exchange filing.
Recently, the shares of Globe Civil Projects, a provider of engineering and construction services, debuted at a 28.3% premium on the exchanges on July 1. The stock launched at ₹ 91.10 on the BSE and ₹ 90 on the NSE, indicating a 26.76% increase from its issue price of ₹ 71. Globe Civil Projects share price ended with a premium of over 33% in market debut as against the issue price of ₹ 71.
This marks the company's initial order since its launch on the bourses. On Friday, Globe Civil Projects shares ended 2.61% higher at ₹ 87.97 apiece on the BSE.
The initial public offering of ₹ 119 crore was priced between ₹ 67 and ₹ 71 per share.
Globe Civil Projects plans to allocate ₹ 75 crore of the IPO funds to meet its working capital needs, ₹ 14.26 crore for capital expenditures related to acquiring construction equipment/machinery, and the remaining amount will be directed to general corporate purposes and the costs related to the issue, as stated by the company.
On the last day of bidding, the initial share sale of Globe Civil Projects was oversubscribed by an impressive 86 times. The company's market capitalization was valued at ₹ 565.66 crore.
Globe Civil Projects Limited is a full-service Engineering, Procurement, and Construction (EPC) company situated in New Delhi.
The firm has successfully executed projects in 11 states throughout India, including Uttar Pradesh, Haryana, Delhi, Maharashtra, Andhra Pradesh, Karnataka, Gujarat, Chhattisgarh, Rajasthan, Uttarakhand, and Himachal Pradesh. As of August 31, 2024, the company's total order backlog stands at ₹ 8,929.45 million, covering 14 different projects.
According to the red herring prospectus (RHP), the company's listed competitors include B L Kashyap and Sons Ltd (with a P/E ratio of 29.57), Ceigall India Ltd (with a P/E ratio of 12.88), PSP Projects Ltd (with a P/E ratio of 20.38), Capacit'e Infraprojects Ltd (with a P/E ratio of 20.56), and Ahluwalia Contracts (India) Ltd (with a P/E ratio of 16.41).
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
an hour ago
- Hans India
Honoured to witness signing of free trade pact between India and UK: Ashish Kumar Chauhan
London: Ashish Kumar Chauhan, MD and CEO of National Stock Exchange (NSE), said on Saturday that it was an honour to witness the signing of Free Trade agreement between India and the UK, in the presence of Prime Minister Narendra Modi and his counterpart Keir Starmer. 'Honoured and privileged to be a witness to the signing of Free Trade agreement between India and UK on July 24,2025 with Hon'ble PM India and Hon'ble PM Uk at the country residence of UK PM Chequers outside London, UK,' Chauhan said in a post on X social media platform. The landmark India-UK Free Trade Agreement (FTA) is an indication of several such trade pacts in the near future under the leadership of PM Modi, he had said earlier on Friday. Speaking to IANS here, Chauhan said that the talks on the India-UK FTA were ongoing for three-four years. 'When talks first began 4–5 years ago, the UK was under a Conservative government. Since then, there have been regime changes but the way both the Conservative and the Labour parties supported finalising the FTA is commendable,' he emphasised. According to Chauhan, the India-UK FTA will pave the way for several such trade pacts with other nations, like the US, the EU and Japan etc, in the near future. India and the EU are aiming to reach an agreement on a free trade deal by the end of 2025. The coming months will be crucial for India's global trade relations, as the government intensifies negotiations with major partners such as the EU and the ASEAN bloc. Meanwhile, talks with the US are also gaining pace. 'The world has seen the tremendous progress India has achieved in the last 11 years under PM Modi, and the FTA will bring a better future for several industries,' said the NSE CEO.
Mint
an hour ago
- Mint
Nuvama sees 40% upside in THIS multibagger stock. Should you buy?
Multibagger stock: Brokerage firm Nuvama has initiated coverage on AGI Infra with a 'buy' recommendation due to ongoing and upcoming projects, anticipated high cash flows, and increasing demand for residential property. Shares of the construction company closed 1.29 per cent higher at ₹ 1,066.9 on the BSE index after Friday's stock market session, compared to ₹ 1.053.35 at the previous market close. 'We initiate coverage with a 'BUY' rating and a TP of INR1,448, valuing the stock at 1x FY26E NAV. AGI Infra (AGIIL) is among the few reputed real estate players in Punjab, with a dominant presence in Jalandhar, aided by a strong track record of well-received, high-quality projects,' Nuvama said. Operating in a market with limited branded competition, it has built a presence and is expanding into high-demand markets throughout Punjab. With a solid project pipeline and a large, well-situated land bank, it is estimated to benefit from Punjab's rising housing demand, according to the brokerage firm. Nuvama further expects that the ongoing and upcoming residential projects will generate a gross cash flow of ₹ 8,282 crore and a net cash flow of ₹ 2,060 crore. It has been recommended to buy with a target price of ₹ 1,448, an upside of 36%. AGIIL is a Punjab-based real estate developer with presence in cities such as Jalandhar, Ludhiana, Chandigarh, and Mohali. It has delivered over 10 projects. Primarily focused on residential real estate, it is also engaged in the commercial sector. Currently, it has 10 ongoing projects with a total saleable area of 11.32 million square feet, of which 4.98 million square feet remains available for sale. For the financial year ended on March 31, 2025, the company reported a net profit of ₹ 67 crore, compared to ₹ 52 crore posted in the previous year. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Time of India
3 hours ago
- Time of India
Chhattisgarh GST dept busts Rs 1 crore tax evasion by medical supplier in Rs 48 crore govt supply scam
Representational image RAIPUR: Chhattisgarh GST department has exposed one of the biggest crackdowns of Rs 1 crore tax evasion scam linked to inflated medical supply contracts worth Rs 48 crore by a Raigarh-based firm accused of allegedly manipulating invoices and routed transactions through shell companies to dodge taxes and secure massive profits from govt health contracts. According to a press release issued by govt, 'The audit of the allegedly accused firm, M/s Shyam Surgical, which supplies surgical and medical equipment to govt hospitals across Chhattisgarh, Jharkhand, and Odisha, is accused of evading over Rs 1 crore. The investigation, launched after a detailed audit of the firm's dealings with the state health department, revealed that M/s Shyam Surgical supplied medical goods worth Rs 48 crore over the last 4–5 years. The actual purchase value of these goods was just around Rs 10 crore. Authorities say the company inflated prices by up to five times, pocketing illegitimate profits between 400–500% on critical health supplies.' To mask the price inflation and evade taxes, the company reportedly set up three shell entities- Rahul Enterprises, Narayani Healthcare, and P R Enterprises, in the names of family members. These firms were allegedly used for internal circular transactions to simulate market-rate purchases and justify overpricing, thereby siphoning off profits while evading tax dues. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Your Finger Shape Says a Lot About Your Personality, Read Now Tips and Tricks Undo Acting on instructions from Finance Minister O P Choudhary, state GST department initiated the probe as part of a wider review of public procurement contracts. The enforcement action was part of a broader directive issued by Chief Minister Vishnu Deo Sai who pushes for transparent governance and accountability, especially in welfare-related departments like health, the release stated. A senior GST official familiar with the investigation said, 'Such unethical profiteering on health supplies directly affects hospitals and patients who rely on the govt for affordable care.' Chief Minister, while commenting briefly on the development, said the govt views any corruption in essential sectors like health as a betrayal of public trust, and warned of severe consequences for violators. 'We will ensure that those exploiting the system for profit are held accountable,' CM said. State officials have issued fresh warnings to all suppliers involved in govt procurement, stressing that manipulating tenders, invoices, or tax filings will invite the harshest legal consequences.
